![]() ![]() ![]() Serdica’s Rating Engine has an API specifically designed for integration with Policy Administration Systems or any other system that includes premium calculation in the business process so that the pricing process is streamlined. The insurer can easily simulate the impact of new prices on the portfolio and estimate the expected profit/loss before actually deploying the new prices into production.Įasy integration with all external systems:ĪBACUS consists of two independent Pricing and Rating Engines, which can be easily integrated with any external system. Together with traditional GLM models, ABACUS uses advanced ML algorithms, which leads to more captured interdependencies and results in precise segmentation and hence, greater personalization.,ĭesigned to support all insurance businesses:ĪBACUS is designed to address all lines of business of the insurer including P&C, Life, and Health. Secondly, regarding the Rating Engine the process of deploying the new approved prices is completely automated boosting the time to market capabilities of the insurer. Global insurers tell us that the main driver of their ESG pursuit is to minimize the impact from climate change. They identified investments as the single largest area of impact (91 respondents), followed by risk and internal audit (90) and underwriting (88). This new approach results in more precise segmentation, better risk assessment, and ultimately another level of personalization. 85 of global insurers believe ESG will impact all functions of their business. Something that is not possible to achieve relying solely on GLM models. If you pass away, you will leave behind happy memories, not debt. ABACUS brings next-level speed and accuracy in these processes, minimizing the error-prone, cumbersome manual efforts and allowing a wider range of users to work with the sophistication of applied mathematics.įirstly, as far as the Pricing Engine is concerned, adding ML-based algorithms to the widely used GLM ones allows a greater number of risk factors to be taken into account and captures complex patterns and non-linear dependencies between them. Your monthly premium is built into your credit Agreement. ABACUS's uniqueness lies in bringing game-changing technological innovations in redefining pricing and rating. Although connected, each Engine can operate as a stand-alone solution. It consists of two engines – Pricing Engine for use by actuaries in premium model development and Rating engine for use by underwriters for premium adjustment rules creation (loadings, discounts, taxes, fees, caps, etc.), deployment, and management. ABACUS is highly adaptive to every legacy system and easy to integrate with any external one. He is a licensed producer in the Commonwealth of Massachusetts and has been certified by America’s Health Insurance Plans (AHIP) since 2017.ABACUS - a powerful ML-based tool that optimizes Prices and Rating processes in insurance companies. Keith also serves as a Corridor Nine (Westborough/Framingham, MA) Board Member. He completed the AHIP (America’s Health Insurance Plans) Executive Leadership Program at Northwestern University, Kellogg School of Management. Keith earned his Master of Health Care Administration degree from Purdue University and his Bachelor of Science degree in Mathematics/Actuarial Science from Worcester State University. Similar Companies to Abacus Insurance and Financial Services, Llc. ABEX provides brokers with capacity and specialty facilities to create out of the box solutions for standard and misunderstood risks. ABEX Affiliated Brokers Exchange Inc., is an insurance wholesaler (MGA) providing niche products and insurance solutions to brokers across Canada. He has also held senior leadership positions at Minuteman Health and Constitution Health, both in Boston. Find related and similar companies as well as employees by title and much more. ABEX Affiliated Brokers Exchange Inc 173 followers on LinkedIn. He then joined Fallon Health in Worcester and became Vice President of New Business, Retention Sales, and Broker Relations. Keith began his career at Tufts Health Plan in Waltham, where he rose to become Regional Sales Manager. Keith is responsible for broker and payer partnerships and leading the business consulting segment.īefore joining Abacus, he was an Executive leader at Health New England, responsible for the Commercial line of business, Marketing, and Business Development. Keith recently joined Abacus Business Consulting after over 28 years in the Insurance industry as a Senior Executive working for several local health plans. ![]()
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